Dogecoin Eyes Third Bull Wave as Market Structure Aligns with Historical Patterns

• Dogecoin’s long-term structure mirrors previous cycles, signaling the start of a possible third bull wave.
  
• The price has reversed its multi-year negative trend and taken over the 25-month moving average which is an indicator of resilience.
  
• DOGE trades near $0.1986 as short-term charts indicate accumulation and rising buyer confidence.

Dogecoin’s technical structure indicates that the market may be entering the early stages of its third major bull wave. The asset has regained support above a key long-term moving average, with cyclical behavior resembling its past bull market phases.

Long-Term Structure Points to New Cycle Formation

According to market data, Dogecoin has been tracing a clear cyclical pattern since 2014, which is characterized by multi-year accumulation, explosive rallies, and corrective consolidations. Two of these bull cycles, recorded in 2017 and 2021, identify the overall structure within an ascending parallel channel on the monthly chart.

A new analysis posted by @EtherNasyonaL highlights that the present structure reflects those same historical patterns. As seen in the chart, Dogecoin has already broken its long-term downtrend and was able to retest it as support successfully. Additionally, the token has reclaimed its 25-month moving average (25MA), a key indicator that in the past preceded the beginning of both previous bull runs.

Dogecoin’s current price behavior sits near the lower boundary of the ascending channel — a zone that previously served as the launch point for substantial upward movements. The flattening trajectory of the 25MA, combined with renewed stability in this range, suggests that the asset could be building strength for another large-scale expansion phase.

Price Behavior Reinforces Momentum Recovery

The market data indicate that Dogecoin is currently trading at a healthier average of about $0.1986, slightly increasing by 0.77%in the past 24 hours. Even as the increase appears minor, it reflects sustained accumulation moves by players betting on a shift in sentiment in the longer term. The asset boasts a market capitalization of around $30.09 billion, with a 24-hour volume of trade valued at $1.62 billion.

On the intraday chart, DOGE depicts a V-shaped pattern of recovery from lows of $0.194 to highs of $0.1995. The pattern indicates wild buying at lower levels as investors still trust the support level of $0.195. Multiple rejections in the $0.198–$0.200 zone have developed a short-term resistance level to be broken for continued extension.

If Dogecoin holds onto price action above $0.195, analysts see a potential test of the $0.205–$0.210 region. However, if the asset dips below $0.193, it may again enter into a restricted consolidation before resuming on broader upwards momentum.

Market Metrics and Sentiment Strengthen the Setup

Dogecoin remains liquid, as evidenced in its 5.38% Volume-to-Market Cap, showing continued activity without excessive speculation. Circulating supply is steady at 151.49 billion DOGE, and its inflationary nature continues to determine long-term value trends.

Social activity among the Dogecoin community has also gained momentum, and speculators point to increased interest and persistent activity. Posts noting that the asset is "rallying again" are in sync with sustained increases in market volume, evidencing return interest by retail participants.

The union of structural solidity, stable liquidity, and revived social activism provides a promising environment for Dogecoin's budding trend. While timing for the next full-blown bull wave is uncertain, the asset's cyclical rhythm and long-term standing in the market suggest that a new growth era could be around the corner.